FAC Explorer

Audit 328617

FY End
2024-04-30
Total Expended
$3.14M
Findings
2
Programs
3
Organization: Village of Round Lake Beach (IL)
Year: 2024 Accepted: 2024-11-15
Auditor: Sikich CPA LLC

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
508165 2024-001 - - L
1084607 2024-001 - - L

Programs

ALN Program Spent Major Findings
21.027 Covid-19; Coronavirus State and Local Fiscal Recovery Funds $3.02M Yes 1
14.218 Community Development Block Grants/entitlement Grants $99,100 - 0
66.468 Capitalization Grants for Drinking Water State Revolving Funds $25,000 - 0

Contacts

Name Title Type
V1MNT8WJSS26 Mason McGinley Auditee
8475462351 Tom Siwicki Auditor
No contacts on file

Notes to SEFA

Title: OTHER INFORMATION Accounting Policies: The accompanying schedule of expenditures of federal awards has been prepared in accordance with accounting principles generally accepted in the United States of America as promulgated by the Governmental Accounting Standards Board (GASB). It is a summary of the activity of the Village’s federal award programs prepared on the accrual basis of accounting. Accordingly, revenues are recognized when the qualifying expenditure has been incurred and expenditures are recognized when the fund liability has been incurred. De Minimis Rate Used: Y Rate Explanation: The Village has elected to use the 10% de minimis indirect cost rate as permitted by 2 CFR §200.414. The Village did not receive any federal insurance, free rent, or noncash assistance and had no federal loans or loan guarantees outstanding with continuing compliance requirements during the year ended April 30, 2024.

Finding Details

Finding 2024-001
2024-001 Reporting – Coronavirus State and Local Fiscal Recovery Funds Assistance Listing Number 21.027 Grant Period - Year Ended April 30, 2024 Criteria: In accordance with the grant agreement the Village was required to submit an annual project and expenditure reports to the Illinois Department of Treasury as outlined on the schedule provided within the agreement. Condition: The Village failed to submit the annual report, in a timely manner. We consider this to be an instance of non-compliance relating to the Reporting Compliance Requirement. Effect: The result is that the Village did not submit the required information to the Illinois Department of Treasury in a timely fashion. Cause: The condition was an administrative oversight. Recommendation: We recommend the Village increase controls over reporting. Views of Responsible Officials: Management agrees with the Single Audit finding and a response is included in the Corrective Action Plan.
Finding 2024-001
2024-001 Reporting – Coronavirus State and Local Fiscal Recovery Funds Assistance Listing Number 21.027 Grant Period - Year Ended April 30, 2024 Criteria: In accordance with the grant agreement the Village was required to submit an annual project and expenditure reports to the Illinois Department of Treasury as outlined on the schedule provided within the agreement. Condition: The Village failed to submit the annual report, in a timely manner. We consider this to be an instance of non-compliance relating to the Reporting Compliance Requirement. Effect: The result is that the Village did not submit the required information to the Illinois Department of Treasury in a timely fashion. Cause: The condition was an administrative oversight. Recommendation: We recommend the Village increase controls over reporting. Views of Responsible Officials: Management agrees with the Single Audit finding and a response is included in the Corrective Action Plan.